Bank of America Merrill Lynch Hires Tech Banker

SAN FRANCISCO — Bank of America Merrill Lynch has hired Bill Frauenhofer, a longtime adviser to chip-making companies, as its head of global semiconductor investment banking, the firm announced in an internal memorandum on Monday.

Mr. Frauenhofer was most recently at Jefferies, where he was the head of global semiconductor and electronics coverage, according to the memo. He previously led similar teams at UBS and Citigroup.

His hiring comes amid an expected uptick in deals within the semiconductor sector, as chip makers grapple with shifts in the industry. The rise of smartphones and other mobile devices has hurt traditional chip manufacturers, while semiconductor companies have looked to consolidation to gain negotiating leverage with their customers.

Intel, the computer processor heavyweight, recently held discussions to buy Altera in a move meant to diversify its product offerings, though those talks ended.

He will join Bank of America in August and be based in Palo Alto, Calif.

Here is a copy of the memo from Chet Bozdog and Anwar Zakkour, co-heads of global technology, media and telecommunications at the bank:

We are pleased to announce that Bill Frauenhofer has been named head of Global Semiconductor Investment Banking. In this new role, Bill will be responsible for developing relationships with clients globally to drive growth and increase our market share in this key area of focus. He will join the firm in August, be based in Palo Alto, California and report jointly to us.

With over 20 years of banking experience, Bill joins us from Jefferies where for the past several years has served as head of Global Semiconductor and Electronics Coverage. Prior to that, he led the global semiconductor banking teams at both UBS and Citi.

Please join us in welcoming Bill to the firm and in wishing him much success.